Action Construction Equipment stock up 3%; bags contract worth $24.98 mn
- Jun 21, 2022, 12.45 PM
- DealMoney News Service
Shares of Action Construction Equipment (ACE) gained 3% at Rs.205.55 after the company has been awarded with a contract to set up a state-of-the-art assembly plant for manufacturing of Tractors, Backhoe Loaders and Fabrication of Agricultural implements for the Government of The Republic of Ghana against a consideration of $24.98 Million.
The said contract is secured through a credit agreement between the Government of The Republic of Ghana and Export- Import Bank of India. The project will be owned and operated by the Government of The Republic of Ghana.
The project involves Designing, Engineering, Commissioning of assembly lines and Supply of plant and machinery for the manufacturing plant in addition to transferring the technical know-how, establishing best-in-class manufacturing processes and quality control systems along with the training of engineers and technicians from The Republic of Ghana for future operations.